Tom Winnifrith Bearcast: an unpriced option to buy 80% of a business with no given profits at no specified cost is worth what?
James Fisher & Sons – “the board remains confident in the group's strategy”. Er, why the “detailed” reviews then?!
Of course there is no insider dealing in London and on AIM - just look at the Vast Resources 5 day chart
Rutherford Health (Formerly Proton Partners) – Delays, Delays From Former Neil Woodford Favourite. Has the Cash Run Out Yet?
I wrote about Orcadian Energy (ORCA) when it first listed on the AIM market in the summer. It has substantial 2P reserves in the Pilot field and significant 2C in the surrounding acreage. It’s looking to farm out a secondary asset for others to input the time and cost to move it forward, leaving the company to focus on core projects. In my opinion this outline deal is a smart move.
Since WH Ireland listed this company on AIM a month or so ago it is biased. And since I own a few shares and the CEO Steve Brown is a good chap from God's chosen lands of Ulster, I too am biased. But if you want to read the note and WH Ireland's logic it is below.
It has come to my attention that Steve Brown, the CEO of Orcadian Energy (ORCA) is the latest victim of the MSM obsession with closing down debate about climate change. Steve has deleted his twitter account following a report by Channel 4 (https://www.channel4.com/news/revealed-north-sea-oil-company-chief-exec-claims-climate-emergency-is-fake) that his personal twitter account expressed views about climate change and global warming which did not accord with the worshiping of Greta. History informs and teaches us and explains why my blood boils at this latest manifestation of the “cancel culture”.
Today has seen a new entrant to the AIM oil & gas sector of the market – Orcadian Energy (ORCA). I am a self-declared Victor Meldrew – grumpy odd sod who sees the only rain later when the sun is shining, and any downside has to be highlighted. But I know a genuine “Buy One Get One Free” deal when I see it. Not those marketer driven “pump the price then make the offer” deals so many supermarkets like. I mean the genuine miss-priced bargain deals. In my view Orcadian is in this special category of miss-pricing and I am likely to be buying as you are reading this article.
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